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Jan 19, 2010 5:00pm EST
intel's effective tax rate last week. who can they go after? isn't corporate america is only target they have left? >> that's right. this administration doesn't want to tax individuals in any way with a 10% unemployment rate. we have 135 billion dollars of expiring tax provisions that absolutely have to be extended before the 2010 election. they will continue to try to go after corporations. it's going to be a lot more difficult if scott brown wins. we're setting up for a big tax bill the market has not realized will lower taxes on individuals, raise taxes on corporations in the middle of 2010. >> dan, wapt to get your time frame. in the health care sector you like humana. that's run nicely in six months. is that still a buy if brown wins? what's the time frame? >> speaker pelosi insists she'll move something on health care. let her try to fail. there are not 2818 votes in the -- 218 votes to pass the senate bill. it will take days to fail. then they have to come up with an alternative slieolution. i think eventually they will come up with something. it's probably going to take two
FOX News
Jan 20, 2010 5:00pm EST
you. i'll show you next. >> glenn: hello america. many i ask an honest question. am i beginning to look a little like james trafficant? seriously. maybe it just me. scott brown pulled out a victory last night, 52-47. close to the numbers we showed you yesterday. republicans everywhere are giddy. there is already talk about brown running for president. me i just say cool it. can we actually have people accomplish something first before they become president? i'm just saying. do you remember this guy? he was posing nude and he thought that was a good idea. sure, it was 1982. but i can't recall an era where male nudity was considered a good thing. scott brown can. 1982. did you see the acceptance speech last night? it was great. it was really good. until he started talking about i guess some sort of dowry for his daughters. >> i want to thank them for their help as well. [ applause ] in case anyone is watching throughout the country, they're both available. no, no, no. [ laughter ] only kidding. only kidding. >> glenn: he goes on to say only kidding. only kidding. she's not. but sh
Jan 21, 2010 5:00pm EST
of the financials. you follow bank of america very closely. what do you make of this uncertainly here. it's not just the uncertainty when it comes to the banks, but it really puts us at a test here in terms of the s&p and price action. >> you know, the banks are obviously a really important sector of the overall market. i think that it's hard to -- you don't want to panic out of them. i don't want to have a very reactionary response to what i thought was very reactionary policy. and we've seen this week how ultimately that might not come to pass. remember, health care, all the pomp and circumstance surrounding health care reform, all the populist rhetoric there. we're seeing the same thing here. i don't want to panic out here, but you don't love it when the government is going against your holdings. i'm feeling like there's a firing range and, you know, some of my positions seem to be targets at the moment. i don't really love that environment, but i'm not panicking out. this is why we own leaps in bank of america. >> give us a trade school. what does that entail. >> a leap for us, we own the 15s ou
Jan 12, 2010 6:00pm EST
news. they even got a big contract. to help bring out gold in latin america. a winner, not a loser. i don't want you selling any of that. now, mohammed ali. time to file away the past as the immortal spice girls said. i'm kind of like -- which spice am i like most? moron spice. the market's throwing a sale. you should be shopping for sales. not run away from them. "mad money" will be right back. >>> coming up, catching fire? as the detroit auto show kicks into high gear, people are asking what will fuel the cars of the future? cramer goes one on one with clean energy fuel ceo to find out on the executive decision. >>> plus, job start. not all auto suppliers are created equal. cramer takes three for a test drive and pits their fundamentals against the technicals to pick a winner. on an all new "off the charts." >> later, stay tuned as we crank up the volume. cramer goes all out as the calls keep coming in. try to keep up on a high impact "lightning round." all coming up on "mad money." what are you doing...? calling chase sapphire, seeing if we have enough points to stay longer. now? y
Jan 14, 2010 6:00pm EST
today in wells fargo and bank of america, unlike stocks here, lady gaga plays with an open hand, not a poker space, makes me suspicious of the bear argument, real estate and credit, right? how often do we check in and hear how horrible those are? and it's true. wells fargo has a tremendous amount of the variable rate mortgages at the heart of the shadow inventory numbers. wells fargo is concentrated in california, the worst market. defaults during the period that it underwrote most of the paper, bank of america, a slew of this bad paper. so here's the issue as i see it. this is what's key for you. if the stories of shadow inventory from foreclosures are 100% right, if the default stories are 100% right, then there's simply no reason, right, no reason these stocks are going higher. none. the stocks should be going down every day, they should be lower, much lower. i don't care how much capital they have to raise. it's just not logical if the horror stories are right. so then i kochl back to this logic, spok. how long is the market? i know for short periods, the market can be dead
Jan 20, 2010 9:00am EST
and in the commodity area there. bank of america, they had a loss of 60 cents. that was a bit larger than a consensus loss of 52 cents. the bottom line is pretty simple. credit is slowly improving at bank of america and many other banks. that's what the -- what most traders were telling me this morning here. also, wells fargo also reported a profit here. a little bit better than expected but loan loss reserves were reduced as well. trader scott, how are we looking at the nasdaq? >> we can open a few points to the downside. that's what the remarket indicator is showing. take a look at big cap technology stocks. most are showing modest losses in the premarket but we're focused on apple down about 0.5% as there is a report it's talking with microsoft about making bing the default search engine on the iphone replacing google. you have microsoft shares still under pressure this morning. google down as well in the premarket. across the board really oracle, intel, and research in motion are all to the down side. certainly there is a lot of focus on technology stocks today in the wake of the b
Jan 8, 2010 3:00pm EST
to work while helping america gain the lead when it comes to clean energy. it's clear why such an effort is so important. building a robust clean energy sector is how we will create the jobs of the future, jobs that pay well, and can't be outsourced. but it's also how we will reduce our dangerous dependents on foreign oil, a dependents that endangers our economy and our security. and it is how we will combat the threat of climate change and leave our children a planet that's safer than the one we inherited. harnessing new forms of energy will be one of the defining challenges of the 21st century, and unfortunately right now, the united states, the nation that pioneered the use of clean energy, is being outpaced by nations around the world. it's china that has launched the largest effort in history to make their economy energy efficient. we spearheaded the development of solar technology, but we fallen behind countries, like germany and japan, in producing it. and in almost all of the batteries that we used to power our hybrid cars are manufactured in asia. though the steps like the one t
Jan 6, 2010 6:00pm EST
grew less than forecast. [ baby crying ] that's america's most important industry, for heaven's sake. we got data from the employment service showing jobs still aren't coming back. no doubt a prelude to the all-important, hey i be the cliche king, employment report that could truly stink up the joint. the fed in its cryptic minutes -- >> they know nothing! >> said the economy in 2010 will be subdued. a total bummer from uncle ben. smartphone doesn't seem so smart after all. dumbkopf phone. like a rotten granny smith. these are the two important stocks out there and could sink a battleship when they go negative. looked like we would get mauled this morning. i sensed it. the bear was back. the market -- instead, i thought i see a slaughterhouse coming. if not slaughterhouse, maybe "slaughterhouse a." not this time. we're way overbought meaning there's been way too much buying, not enough selling, driving stocks up too far too fast. i consider it a greed indicator. i monitored this one like a hawk and the markets overbought. vulnerable to the kind of ugly national news and bad stock beh
Jan 4, 2010 11:00am EST
moving forward. >>> nice start to the new year for two new bank ceos. shares of bank of america and morgan stanley trading higher today. details on the new leadership. with fidelity, you can take your trading around the world, because now you can trade u.s. and foreign stocks online, in 12 markets, 24 hours a day, all from the same account, and settle in u.s. dollars or the local currency. plus, we'll guide you with international research and realtime quotes, so you can diversify your portfolio, wherever -- whenever. and we'll be on call around the clock, while you trade around the globe. fidelity investments. turn here. >>> welcome back to "the call." traders decided to start 2010 being long commodities. we are seeing a buying three here across the board. oil prices up nearly $2. $81 barrel. gold prices up $27. and what's fueling all of this is the strong economic data. strong ism numbers here and china's manufacturing growing at the fastest rate in five years. add to that the cold temperatures we are seeing and you see the tear we are seeing here in some of the winter fuels he
Jan 14, 2010 5:00pm EST
by deposits, and that would be more of a goldman sachs versus a bampnk of america or morgan stanley versus jpmorgan. hey, if you want to have this risky kind of structure you're going to pay a tax on it. that's not that dumb actually. so i think it would be -- for those guy, for a goldman sachs, it's more punitive, even for citibank, more punitive than bank of america or jpmorgan. >> right. and oppenheimer said that today. jor man stjpmorgan would feel i. the biggest impact could be on morgan stanley. >> i still haven't done anything against the position. i still like morgan stanley going forward. the xlf, it almost shook me out the other day. got towards the 15 level. continues to hold on. i like the way the reaction is. and u.s. bank this thing has been such a stellar performance. since it got upgraded last week, it was $23, now over 25. they've been buying put protection way out into june in that stock. you've just got to like when this stock is going up in a negative tape, up in a positive tape. the reaction has been phenomenal. >> i added to our bank of america position today through
Jan 15, 2010 11:00am EST
as well said delinquencies fell in december and chargeoffs continue to rise and bank of america, you see it in the bottom of your screen down 3% as well. even though intel had better-than-expected earnings and it's a sell on the news picture today because you've seen the semiconductor index weigh on the major averages as well and some of those chip names like texas instruments almost to the downside. teradyne as well. amd is bucking the trend even though it's a fractional move to the upside. fertilizer stocks i continue to watch those. we'll continue to watch both of those shares. agrium to the down side by more than two bucks and potash is having a pretty good day as the price target was raised over it, rbc. take a look at some of the office supply companies as they're focused around a modest recovery, if you will in the job market, and i mean modest. it was upgraded by j.p. morgan to overweight from neutral. in the labor market you've seen staples and office depot rising on the back of that as well. schlumberger was raised to a buy over at jefferies and then kellogg was upgraded to a b
Jan 22, 2010 3:00pm EST
are the financial, morgan stanley, of course bank of america, all down 6%, 7%, 8% on the week here. american express had their earnings out, that's not helping them today, look at that, down 8%. capital one also down noticeably and then you've got the earnings situation. other stocks. schlumberger had their earnings out, a few days, for schlumberger. the bottom line is they're charging lower prices for their oil services and of course their margins are under pressure. stocks are selling today on the earnings report. and then you have the tech situation, which is a very difficult time right now, because they all ran up ahead of earnings season but they're not doing that well. you've got citigroup coming out, downgreeding the whole semiconductor capital equipment group, so amat, teradyne, that group is all under pressure right now. let's go to rick santelli standing by in chicago. enough for you to digest there, rickster? >> reporter: i asked everyone around me what the word of the week was, and the word of the week was, unanimous, confusion. that an uncertainty, i guess that was the tie for second. s
Jan 29, 2010 11:00pm EST
. >> there is a bull market somewhere. >> you can't afford to miss it. > hey, i'm cramer. welcome to cramer america. a lot of people want to make friends. trying to save you some of money. my job, to entertain. call me. never get complaisant. always challenge your thesis whether it's positive or negative. look for evidence that could improve your perspective. that's what i always do because you know i'm not always positive on this stock market right now. not at all. with the averages, dow down 53 points, s&p 500 up nearly 1%. and most important, the nasdaq -- fire in the hole -- down 32 points. hey, all that bears me out, doesn't it? the pun's intended. right now my view is things are going wrong and they're going wrong bad. why? because stocks have to pass through the seal of the president of your 401(k) and the grip of a chinese government. mandated slow down. that means everything from apple to amazon, from bank of america to caterpillar must go through a gauntlet and this gauntlet is worse than that of clint eastwood. in the classic film of the same name. what happens if one of those loses its
Jan 12, 2010 11:00pm EST
into international investment. >> i don't like america's team. >> caller: at least in part because the business climate is better in those countries than it is in the united states. >> right. >> caller: but my question is, if other countries are so much more attractive and business friendly than the united states currently, should we have even greater 20% --? >> i waffle over this. 20% is foreign. 10% is gold. that leaves 70% for united states. i am not giving up on this country. we have a lot of great values. remember, many of the s&p stocks and most of the dow stocks are international companies. they will take advantage of exactly what you're talking about. 20% overseas is very high. probably the highest of any money manager i know. that's how far i'm going and not a percent further. i need to go to mitch in south carolina, which i call carolina. mitch? >> caller: hi, jim. got a big-time boo-yah from charleston, south carolina. >> man, you've got that charleston university boo-yah. everyone's crazy about that school. go ahead. >> caller: -- around $40 a share just before the recent push. curr
Jan 15, 2010 12:00pm EST
of america, a real laggard, down. chip stocks, this is classic sell on the news as intel had much better than expected earnings after the bell yesterday, though texas instruments, teradyne and advanced microdevices which was positive earlier in the session has since turned negative. let me show you commodity stocks as well because it's a significant story. gold itself was down a dollar today. excuse me, oil was down $1 and as a result, those stocks and other commodity-related stocks are to the downside as well. let's head up to the nasdaq now and mike huckman. >> thanks, scott. in addition to the strocker dollar, the reason we're now 1.3% or almost 30 points lower here at the nasdaq is because the chips are down. we're talking a 3% loss in the philadelphia semiconductor index. of course, it's intel that is leading wait lower here, down 2% right now despite the fact that the company hand ily beat the street. novellus is down 3.5%. the lone exception in the chip sector is qualcomm, perhaps on a relatively bullish shoutout on "squawk box" this morning. then we have the j.p. morgan-led weakness i
Jan 15, 2010 5:00pm EST
was consumer credit. that will be a very telling thing for bank of america. that's the most important driver, bank of america, consumer credit. i didn't love the rhetoric. maybe i was a little lubed up. i had jp morgan calls. they went to zero today. not a stellar feeling. i do think, though, as tim said they're really well reserved. maybe even overreserved. probably over-reserved. it's the delinquencies that stabilize. that's one of the most important metrics to me. delinquencies are future problems down the road. chargeoffs were already problems. they were in the bucket that would likely, you know -- trouble. >> it's the credit cards. it's the stuff on the retail side that seemed to have everybody talking about the caution they were looking forward. they have this money toward the loan loss reserves but everybody wants to know when are we going to see the dividends come back. not in the first quarter, somewhere toward the middle of 2010. they did allude to the fact, and to your guys' point, there is so much money there. they're talking about potentially 75 cents a quarter. there's a lot of
Jan 29, 2010 3:00pm EST
that time frame of longer 2011-2012 and that's what every bank in america wants to be in. they're the only one. >> jim, good to see you again. >> good to see you, partner. >> thank you very much. watch the show 6:00 and 11:00 eastern tonight. that's it for "street signs." thank you very much for watching. "closing bell" begins in just a moment with an all-star cast from here, davos, and indeed cnbc's global headquarters. from this team thank you for watching. stay tuned for the big one. >>> history or hype? is the month of january really a good predictor of stock market performance and what should investors do based on this month's trade? live from the new york stock exchange, this is the final and most important hour of the trading day. >>> and good afternoon, everybody. welcome to the "closing bell." iful scott wapner live here on the floor the new york stock exchange. michelle? >> hi, scott, i am michelle caruso-cabrera at the cnbc global headquarters. ge is wrapping up on a downnote. as january goes, so goes the rest of the year. but here's some contradictory stats that might help you
Jan 20, 2010 4:00am EST
viewers to understand is the fact that total debt in america is, in fact, the not dproeg. it's a widely spread belief that all debt in america is growing out of control. in reality, the private sector is contracting faster than the government is spending and i think this is reducing the amount of dollars in circulation. when you reduce the supply, you drive up the price. >> very interesting, emil. we're going to leave it there for now and you'll be with us throughout the hour. right now, let's get you caught up on some of the big stories we've been following around the globe. president obama's chances of passing health care reform suffer a major setback as scott brown, republican, wins the senate seat held by ted kennedy in massachusetts. democrats may not have enough time now to resolve differences between the house and the senate health care bill and get new cost estimates before brown is sworn in. that leaves house democrats with the unpalatable option of trying to pass a senate bill that many disagree with. that stinging defeat in the senate comes on the one year anniversary of pres
Jan 30, 2010 4:30am EST
on america and believes the worst of the storm has passed. oftentimes the markets are the first predictor of what's to come for the economy. we checked in for traders on the market's view on the state of the union. january is turning into a chilling month for the market. the dow and s&p 500 seem to be falling faster than a mid winter snow with the dow dropping more than 500 points since january 19. some believes so goes january, so goes the rest of the year, which might not bowed well for the economy. >> a lot of times what you do is reduce risk when the market is low. we've seen the hotter money come out of the market. >> charlie neddos is closely watching the rises and falls in the crude oil market. oil tends to go up in anticipation of a growing economy and drop when tough times might go ahead. within the past three months, oil shot up, but since has drifted down. neddos is watching footloose for the economy by way of the job market. >> i'm looking at average hourly work week in terms of looking for some up particular. generally what you see before an employer takes on a new hire, they
Jan 7, 2010 4:00pm EST
jones and the s&p. individual stocks doing very well on the upgrades today. be that, ge, bank of america and the retailers also. employment report critical tomorrow. "closing bell" continues. [ closing bell ringing ] >>> and it is 4:00 on wall street. 1:00 p.m. here in las vegas. do you know where your money is? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo. today, come to you live from the consumer electronics show in las vegas. coming up in the hour, we'll continue our look at the hottest trends at one of the most important technology trade shows in the country. plus, from an investment standpoint, tech has been leading the way. we'll talk to some of the industry's most innovative minds. dreamworks animation ceo jeffrey katzenberg among them. he'll give us his vision for 3-d entertainment. he was with us last year and he predicted it would be the hot trend. plus, pure digital technology ceo jonathan kaplan with me giving us an inside look at the future of sharing home videos. all of that a head on "closing bell." >>> a look at the day on wall street. we had fur
Jan 12, 2010 4:00pm EST
, exxonmobil, total and petrobras down. oil down. financials mostly weaker. bank of america being sued by the s.e.c. the obama administration considering a tax on some of the big banks. i don't need to tell you what the result was on those stocks. citigroup, bank of america, j.p. morgan chase and wells fargo under pressure. the market seemed to come off lows around the lunch hour. aetna reaffirmed the '09 forecast but sees 2010 eps modestly lower than 2009. the market seemed to take a leg lower. kb home slid today. it wouldn't make any money in the first quarter. the hartford is to the upside. it had a pretty good day as it raised its outlook. tiffany this san interesting story, a good story. global holiday sales up 17%. raise the outlook. as you see from looking at your screen, the stock was down. part of the reason could be tiffany has been performing well. the stock has been up more than 100%. >> fantastic performer. you are right. thanks, scott. >>> the weak start to earnings season being felt at the nasdaq with the index having the worst day in seven weeks. matt nesto is manning the market
Jan 13, 2010 5:00pm EST
, expire friday and bank of america and i think that this -- you know, it is a good time to be in the banking business. aside from all of the noise. i really think it is noise. crescendo of bad news and bonuses and all of that. i think that noise at the end of the day, earnings. we will see what they can earn. that will drive the stocks. >> commentary of analysts the commission hearings weren't like a witch-hunt, language being used is sort of civilized. held up nicely. that implies banks today on the back of the outcome of the commission hearings. and that implies that was an overhang going into the hearings. >> i think it was. inquiry -- commission was actually one of the better things for the financials. momentum has been down now. kind of like the bengals/jets game last week. everyone expected the bengals to come out and scored a touchdown. you know what, the jets hung in there ask won the game. same thing happened today. the commission in the begin looked like they were winning and the -- wall street gang hung in there. very well. i thought. and the market recognized
Jan 14, 2010 12:00pm EST
with a bailout fee. we are going to continue reaching across america for reaction and fallout over the next couple of hours, what it means for financials, investors and how this is playing out on main street. you can't afford to miss "power lunch," is all over this red-hot issue. >> indeed we are. i'm sue herera. our partner michelle continues on assignment. stocks are steady despite weak economic data and intel trading ahead of the 52-week high ahead of earnings and oracle among the winners as well. that software giant trading at levels we haven't seen since february 2001. >> i'm dennis kneale, our power player, lee gallagher from fortune magazine, and an old colleague of mine. she's also been on a volunteer trip to hate and i we will get her insight on the makeup of the country at a terrible time. >> let's get now to -- welcome, leigh. we'll get you involved here as we always do. >> great. >> our top story is is the president hitting the big banks with that so-called t.a.r.p. tax. it is part of the administration's plan to recoup every dime of taxpayer bailout money. john harwood joins us
Jan 19, 2010 4:00pm EST
email on vacation. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access >>> let's take a look at the other business headlines on this takeover tuesday. four month hostile battle between kraft and cadbury comes to an end. $19.5 billion in cash and stock after kraft agreed to inject more cash and less stock. it is unlikely hershey will step up and make an offer. tyco international is buying broadview security for $1.9 billion. the deal previously known as brinks home security $42.50 a share, 39% premium. tyco plans to combine broadview with adt. met life is in final discussions to acquire aig's alico unit. they would pay $15 billion for that business. federal reserve chairman ben bernanke is asking the government accountability office for a full review of the bailout of aig. coming up, we hear from one former fed official who says this is bernanke's way of calling for
Jan 20, 2010 3:00pm EST
america sales trailed. i'm joined exclusivee by the chairman and ceo with lew frankfort. the company reports that three cents better than analyst's expectations, actually, revenue up nearly 11% for the sales part of the business. what went right last quarter? can you characterize the last three months for us. >> i think everything went right. we actually put into place a whole series of initiatives. new collections, such as poppy. a rebalance assortment but more compelling price points. acceleration of openings in china and on our supply chain was able to deliver with a lower cost. so overall we had a very strong quarter. >> so why do you think the stock is under such pressure today? people are talking about north america sales in the second quarter trailing some expectations. was north america weaker in some parts of the world in your view. >> around the country grew 11%. and overall growth in our coach stores grew 16%. so we feel really terrific about the reinvigoration of our north america sales and we actually achieved about 3% comps, which was the first time in five quarters tha
Jan 30, 2010 4:00am EST
to amazon, from bank of america to caterpillar must go through a gauntlet and this gauntlet is worse than that of clint eastwood. what happens if one of those loses its ability to crush us? remember, if you challenge your thesis, the stock that is passing through the strait has gone down enough to be considered a comeback name. it's a blood letting to turn bush. and that's precisely what we'll be looking for, evidence in next week's game plan. i think it's possible that the stocks and health care stocks could soon reach the point where obama can't hurt them anymore. the financial space is going to go higher because perhaps we've reached the peak of populous political antibanking certainty where we no longer worry about mankind being crucified on the cross. there's only so low you can demagogue this. as for health care, even though barack obama didn't back down, it's not obama that matters. it's congress. and in congress he simply doesn't have the votes. so there's two areas where the stock sailors may be able to escape sill l lalaa. ah, but the karibdas, that is a different story. that is
Jan 4, 2010 6:00am EST
security measures facing every passenger flying to america from 14 high-risk nations, those nations are considered sponsors of terrorism or countries of interest by the transportation security administration. the new rules take effect this morning. our homeland security correspondent jean mene meserve live. >> reporter: all passengers on flights heading into the united states will be subject to random screening, and those flying in from certain countries will be required to go through enhanced screenings, such as full-body pat-downs, carry on bag searches, full body scanning and explosive detection swabs, this according to a new security directive issued by the transportation security administration, and now in effect. the countries include those that are officially listed by the state department as sponsoring terrorism, those are cuba, sudan, syria and iran. a list of another ten countries of interest was developed by the state department, department of homeland security, and intelligence agencies. it includes afghanistan, algeria, iraq, lebanon, libya, nigeria, pakistan, saudi ara
Jan 11, 2010 9:00am EST
deal from three realtors across america. you are in the "cnn newsroom"s. >>> the beautiful >>> here is what we know. a hard freeze watch has been in effect overnight fofrt northern part of florida, and some citrus groves in that area already received substantial damage. five deaths, two in georgia and three in vermont are being blamed on accidents on partially p frozen water. let's go to rob marciano. how much longer will we see the cold sticking around? >> we had the reinforcing shot last weekend. there is so much of the nation that has snow cover. over 50% of the nation. we have a cool front heading towards pittsburgh. the air behind this is not terribly cold. that's good news here. we are looking at temperatures around 20 degrees in chicago. 25 warming up. and now places are still in the lower 20s as well. not a huge difference as far as what we are seeing behind the front and ahead of the front. i think we tapped the arctic out, at least for now. breezy conditions will be the case behind this thing, and temperatures will be moderating at times. right now, though, it's 31 degrees
Jan 12, 2010 6:30pm EST
deficit hit $36 billion, up alst 10% from october. >> susieamerica's factories get a bad rap. many people think mafacturing is an indust with no growth and no jobs. but there's lotsf optimism at one metal pas factory in new jersey. erika miller went ere to find out y, and discovered that thisne company may be part of biggerrend. >> we've seen pick up in demand sce about the middle of 2009 across all sector and it actually happenedery quickl >> reporter: jim mccliock is the president of micro smping, a company at cuts metal parts used in cars, mecal instrunts, computers, and airplanes. the company is loced in this unassuming building in subban new jersey but don't let that fool yo its perspecte is big. is it fair to y that although u're a new jersey-based manufaurer, you have your pulse on the global econom >> we do have our pulson the global economy, and it's absolutely imperive. today's manufacturg envinment, it's so easy to ansact business around the world fluidly. reporter: the company is reporting steady increase of new orders since last summer, and it is hiri in anticipation of 20% r
Jan 26, 2010 6:30pm EST
of a uniq pilot program in chago called keep our homes. it's a partnersh between bank of america andour community groups on the city's southst side. the bank provis the names of customerwho are more than 60 days delinquent on the mortgages. the grps and their volunteers then work with tho customers to get their lns modified. sincnovember, bank of america hareleased the names of more than 500ustomers in this predominantly hispan community. the bank says langge barriers often ke it hard for it to communice with these borrower so volunteers like silvia cisnes are a big help. >> some of them are ppy to see us, that we are from the urch, their parish; that we are not there to selanything or get theinto trouble, but st to tell them where they c go forelp. >> reporte counselors at the four agencies rk aggressively withomeowners to gather all of the necessary parwork for refinaing. >> can i get some ditional information om you? >> reporter: flow-up calls to ack down missing documents a common. donna stites hea up one of the groups working on the projec and admi the process is metimes frustratin
Jan 26, 2010 7:00pm EST
of a unique pilot program in chicago called keep our homes. it's a partnership between bank of america and four community groups on the city's southwest side. the bank provides the names of customers who are more than 60 days delinquent on their mortgages. the groups and their volunteers then work with those customers to get their loans modified. since november, bank of america has released the names of more than 500 customers in this predominantly hispanic community. the bank says language barriers often make it hard for it to communicate with these borrowers, so volunteers like silvia cisneros are a big help. >> some of them are happy to see us, that we are from their church, their parish; that we are not there to sell anything or get them into trouble, but just to tell them where they can go for help. >> reporter: counselors at the four agencies work aggressively with homeowners to gather all of the necessary paperwork for refinancing. >> can i get some additional information from you? >> reporter: follow-up calls to track down missing documents are common. donna stites heads up one
Jan 11, 2010 3:00pm EST
the securities and exchange commission, and its ongoing legal dispute with bank of america. basically, now the s.e.c. is asking to add new charges to the lawsuit dispute with the bank of america regarding merrill lynch's extraordinary losses, not being disclosed in time before the shareholders to act on the vote of the takeover. last august the s.e.c. sued bank of america per not disclosing to shareholder voting on the takeover that it intended to pay more than $3 billion in bonuses to merrill lynch employees. that they had a settlement, it was thrown out. a new trial is scheduled to begin on march 1st. bank of america, in a response to this latest request by the s.e.c., calls it an 11th-hour move, and says it will hinder its ability to prepare a defense in time for that march 1st trial. maria. >> all right, hampton, thanks very much for the angle on that. >>> meanwhile, we've got breaking news today and we will have it for the next several weeks in terms of earnings news coming out, alcoa kicking off the earnings period for the fourth quarter after the close tonight. we're waiting on that repor
Jan 11, 2010 4:00pm EST
against bank of america as the two plan to go to trial on march 1st over bank of america bonuses. s.e.c. says basically, you know what, bank of america should have revealed the merrill loss es. to bank of america before that deal was finalized. bank of america not impacted with that news. finishing with a gain of just over 1%. highlighting campaign manager comments coming out of the jpmorgan health care conference. coming from the ceo jamie dimon. a number of things, including compensation on wall street, that -- saying that there is no question the compensation was excessive and exacerbated. mr. dimond also said no company is too big to fail and of course need a major overhaul of the financial regulatory system. something that he's been saying for quite some time. we're watching jpmorgan because it reports its earnings on friday as well. >> thanks very much, mary thompson. break down the trading action that we've been seeing in this session. joining me with a look of what is another business day is executive vice president and chief investment officer with harris private bank. alon
Jan 12, 2010 5:00pm EST
that in the short term. in the longer term i like both of them. >> karen, you were long bank of america still. >> jp morgan i do have calls. not my normal -- three days left to go. i think it'll be a very interesting earnings report and set the tone for the weeks to come. big names like bank of america, it is a little bit different business model as joe is alluding to than goldman sachs. we'll have some clarity there. i think if those earnings provisions start to come down we'll really start to see earnings power. >> your calls specifically expire on the day they report. >> they report in the morning. the calls go in the afternoon. leaves me all day to pretend like -- >> i love it! >> look at the xlf. what we saw last week was the folks that were rolling out of january into february trying to buy a little time. almost had to pull the rip cord today. when you look at the xlf it actually did close above 15. morgan stanley actually didn't finish quite on the lows of the day. that was a little bit helpful. u.s. bank was the out lier that really stood out to me. yesterday the put protection buying. peopl
Jan 12, 2010 7:00pm EST
stanley. the new bank of america ceo brian moynihan. coming to washington just as record prochts and record bonuses are being announced almost daily on wall street, while millions of americans are unemployed, and small businesses in particular complain about the lack of lending and a credit crunch. now, congress gave this commission a mandate and subpoena power to look at nearly two dozen issues related to the cause and effects of the financial crisis. in the first two days of the hearings, we'll not only hear from the top bank executives, but officials leading major federal and state investigations. as well as leading economists. >> i have just a couple quickies. this is republican and democrat run. >> yes, six democrats, four republicans. >> i want to assume and even think this is not a soviet show trial. they're not just going to bash the bankers. they're really going to go through an investigation, exploration, analysis, sort of like the 9/11 commission years ago. because we don have a consensus in this country on exactly what and why it all happened. we really don't. >> that
Jan 20, 2010 5:00pm EST
financial space. >> intraday tape on bank of america, you had a slim margin of time and you probably went in that moment because you talked about buying when it was basically unchanged where it was trading lower on the session. we heard midday oppenheimer raising estimate on bank of america to an outperform. you saw it move higher and highlighted why you were in the market. that is that the credit deterioration looks like it has peaked back in the second and third quarter as opposed to the expectation of the fourth quarter. that's why they were in there. they're saying normalized earnings now, now they can use normalized valuation when it comes to bank of america. quite a change from just a couple of months ago. >> also if you look at bank of america earnings, you have to like the investment banking contribution from merrill lynch. i don't know if people were factoring that in. that was present today in the earnings. >> guy? >> i think if you play hockey you have to skate forward and backward. if you trade you have to make money when it goes up and down. yesterday we said we
Jan 21, 2010 7:09pm EST
think it's short of breath. we can certainly do better without it in america. >> we welcome you back on the report, sir. thank you ever so much. >>> coming up, we delve in to the history of glass-steagall which is under pressure and we'll debate whether reinstating the rule is best answer to financial regulation. is mr. obama possibly right about taking the banks out of all these activities and is that real the problem as we try to get economic recovery and reduce the unemployment rate? and plus please catch john harwood, he's got first on cnbc interview with larry summers. that's on the cnbc special report breaking the banks. that will begin at 8:00 p.m. eastern. stay with us here in the kudlow report. but when you look a little closer... their story begins to fall apart. see, at&t let's you talk on the phone while you surf the web. [ clattering ] verizon...doesn't. at&t has the most popular smartphones and the nation's fastest 3g network. verizon...doesn't. [ clattering ] glad that's cleared up. oh, boy. [ male announcer ] at&t. a better 3g experience. get an exclusive pantech mess
Jan 4, 2010 3:00pm EST
searches. is that what america has become. is that what we have to deal with now, mary. >> that's not what america has become. it's the risk terrorists are putting on planes. this is not new. for example, some of these incidents and some of these copy cat terrorist plots, the ones they are copying now go back to the 1970s. in fact, some of these plots are very reminiscent of the plots in the '70s. >> calling for strip searches of every single young muslim man who travels. there must be hundreds of thousands of muslim men, if not millions every year. you can't strip-search all of them, can you? >> no, there's 753 million passengers coming to and from and around the united states. it's not physically possible. there aren't that many hours in the day. that's why we need the equipment. we need to bring us into the 21st century with the equipment. >> dayo, what about it? what about the equipment and privacy concerns? even democrats expressed privacy concerns about the equipment. >> i think this is misguided. irrespective of how you feel about racial profiling, national profiling, which is essen
Jan 14, 2010 6:00am EST
anything, do you think? >> well, becky, i think we're seeing in what goldman is doing, what bank of america is doing some sign that these bank executives are conscious, they're listening, they're reading the newspaper, they're getting the idea that they're behind the eight ball in terms of public opinion. they're trying to react. but of course, they have to balance the interest of their people and their need to keep talent which is the argument that they've been making. so yes, i think they are on notice and they ought to be on notice, given the nature of this election year that they're going to be in the spotlight not just this month or next month, but throughout 2010. >> where does health care stand, john? there are a lot of things going on, but we're not hearing anything. >> this is not a joint statement. >> this is very interesting, guys. they had an eight-hour meeting at the white house yesterday. now, everybody has been assuming this thing was going to kind of float along for the month and get done at the end of the month. but you could see yesterday the determination of the president
Jan 28, 2010 12:00pm EST
action. stocks have been selling off fairly aggressively today. p & g, j & j, bank of america leaked the dow. caterpillar, american express, the biggest losers right now, down more than 3% or so each. bob pisani starts it off at the new york stock exchange. technically, bob, seen damage in the s & p as well, which as i understand it triggered more of the selling in the dow? >> broke the 50-day moving average. good earnings, folks, from ford, 3 m, proctor and gamble but not helping. look at what is going on here. first what is going on, greece matters, winding there compared to european bonds. they are closed over there right now but that san issue. then we have what is going on in england. s & p put out comments this morning saying the united kingdom no longer classified being among the most stable and lowest banking systems. there is the footcy, the lows, 2 1/2 month low. all the other european end sees are as well. the dollar goes up against, the dollar at a five-month high there. see the move to the upside. some disappoint.son some of the tech earnings, for example, motorola a dis
Jan 11, 2010 5:00pm EST
. with roadside assistance and courtesy transportation, it's the best coverage in america. ' >>> all right. we want to give you an update on alcoa. the stock is down in the extended hours, about 4% right now from where it closed in new york. the company reported earnings of a opinion penny a share. revenue did beat estimate. the company reported revenue of $5.4 billion versus an estimate of $4.82 billion. the stock right now under pressure to the tune of about 4% based on the close in new york of alcoa. as you can see, the shares are active in the extended hours. the rest of the market did well. in fact at the close, we saw some money moving into the market with the dow jones industrial average closing near the highs of the day, up 45 points at 10,663. nasdaq though, even though it cut its losses, it still ended in the road. s&p 500 eked out a fractional gain. ly si'll see you tomorrow on "closing bell." have a fantastic evening. "fast money's" up next. >>> earning season gives with a big disappointment. live from the nasdaq market site, this is "fast money." i'm melissa lee. alcoa reporting f
Jan 15, 2010 3:00pm EST
that -- there's that jpmorgan chart. look at bank of america, citigroup, a similar story. capital one talking about rising write-offs. commodities weaker. dollar's higher today. gold stocks, steel stockancy,i% stocks are all lower today p and chips, really an interesting story. walk around here take a look at what texas instruments is doing today and that stock's under a bit of pressure as well. you've seen some of the other chip names. the semiconductor index, for example, is weak today. the nasdaq's having a tough go of it as well. my eye on fertilizer today as cmf tec m cmf terminate it's offer. and potash, the price target was raised over at rbc. let's talk about some of the positive stories that we've been following today. office max is one of them in fact the office supply companies are very much in focus, and i was there this morning when the stock opened. that being officemax. overweight to neutral on modestly improved labor markets. we also watches office depot and staples have a pretty decent day as well. upgrade, schlumberger got one, raised from buy to hold at jeffries. kellogg up
Jan 20, 2010 11:00am EST
care reform and other issues. now back to today's trading and the financials. bank of america and morgan stanley both reporting they fell short in q4. meanwhile, a number of regional banks posted profits and beat expectations. so should you invest in regional banks instead of the big guys? let's ask matt mckorm am, banking analyst at matt mcgregor and senior editor for the credit suisse financial services group. matt, as i recall, i may have this wrong, but you were always in favor of the regionals. is that the case and are you still there? >> well, i'm a little bit more in favor of the regionals and they're more nimbler, but i'm in favor of the custody banks and if you look at the numbers from bank of new york state street or northern trust which we own, they had great beats across the board, larry, and i think what the market's doing is they're digesting these numbers and they're understanding that with gridlock soon to be happening that the stimulus will probably not happen and i think the juice that has been helped in propping up the market once they pull that out is causi
Jan 15, 2010 9:00am EST
fair value and that's maybe 20, 25 points on the dow. >> bank of america's influential research investment committee is putting out a report. wall street is paying a lot of attention to it this morning. it's bullish. we'll have the man behind that exclusively. >> and big news on wall street bonuses. a "wall street journal" survey shows wall street paid up to 18% to the top 38 firms from a year ago. >> the debate gets hotter this morning with new details and new faces weighing in. >> but first, let's find out what's going on with the markets before the bell. we start with, scott, here come the judge, wapner at the big board. >> jp morgan will be very active today obviously. earnings were better than expected but revenues missed. loan losses are increasing. loan loss reserves increasing as well. the street actually looking for loan loss reserves to start coming down a little bit as the environment improves a bit. here is some commentary from the jp morgan cfo. it's interesting. sees $1 billion loss in credit cards for the first and second quarter. says improvement in early stage d
Jan 20, 2010 4:30am EST
news "early today" in america. >>> police in los angeles are looking for a suspect who held a cashier at gunpoint. a surveillance camera captured the robber holding a rifle in the face of a 7-eleven employees. he continuously shouts open it. but the cashier is not able to open either register. the gunman eventually fled empty handed. >>> a woman found dead in a mobile home after a massive tree toppled on her california rv park. heavy wind and rain caused the eucalyptus tree to come crashing down on the victim's trailer. the massive tree was measured ten feet in diameter. >>> also in california, a flight instructor and his student are lucky to be alive after crashing into a mountain. their plane reportedly went down after a strong wind gust and hit a peak in joshua tree national park. rescuers found the plane upside-down hours after the crash. >>> and in baltimore, a mysterious ritual surrounding edgar allan poe's grave appears to be never more. for the last 60 years a cloaked figure has left roses and a bottle of cognac on the author's grave site on the morning of his birthday, januar
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